Unsecured Business Overdraft
OverdraftsData Sharing Status
Now it's quick and easy to apply for unsecured funds to expand your business.
- From
- 13.71%
- Variable
Interest Rates
| Type | Rate | Comparison | Applies To |
|---|---|---|---|
| Variable | 13.71% | — | — |
Fees
| Fee | Type | Amount |
|---|---|---|
| Monthly Line Fee Charged monthly · Monthly Line Fee: 1.50% p.a. (of total limit) charged at the beginning of the month. Other fees may apply. | Ongoing | 1.5% of balance |
Lending Establishment Fee
| Upfront | $250.00 |
Features
- Special offer: $0 establishment fee for a limited time, you?ll pay $0 establishment fee when you add a Business Overdraft to a business transaction account or top-up your existing Business Overdraft. This could save you up to $1,500 on a new overdraft limit of $250,000, or $750 on an overdraft top-up of $250,000. Offer is available for applications received and approved between 7 April 2026 and 30 Sep 2026. New limit or Top-up of up to $1m.
- No security - There?s no need to use assets to secure the loan.
- Pay for what you use - Only pay interest on the overdraft amount you use.
- Quick access - Overdraft limit of up to $250k for when you need it.
- Flexible repayments - No fixed time frames or need for regular repayments.
- Extra repayments
- Subject to terms and conditions, this product includes extra repayment features.
- Relationship management
Eligibility
- If you're a Westpac customer with conditional approval, applying is simple. All you need to do is sign into Online Banking.If you are not sure about conditional approval, please sign into Online Banking and check the Overview tab or the business products menu. If you have conditional approval, it will be shown there.
- Minimum turnover — $75,000.00 p.a.Registered for GST with a turnover over $75,000 per annum
- Traded for at least 12 months with a valid ABN or ACN
- Be a business entity or an individual 18 years and above, domiciled in Australia; and require the funding wholly or predominantly for business purposes
- Requires a Westpac business transaction account in the same name that you will use to apply
- Operating as a sole trader, partnership, trust or company (if the company is a sole director company, the sole director must also be the sole company secretary). Guarantees may be required
- All your ATO payments, loan repayments and employee entitlements (incl. super) are up to date.
- Your business has less than $1.5m in existing business lending with Westpac
- Customer is an existing business customer.
- If you're a Westpac customer without conditional approval, you can still apply online if you meet the below requirements. You'll need to: Be able to sign into Westpac Online Banking. Also have a business account with ANZ, Bank of Melbourne, BankSA, Bankwest, Commonwealth Bank, NAB or St.George and use Online Banking . Connect your Xero cloud accounting software.If you are not sure about conditional approval, please sign into Online Banking and check the Overview tab or the business products menu. If you have conditional approval, it will be shown there.
- Your business must not foresee a decline in business revenue that would affect the payment of business liabilities
More Information
Published by Westpac under the Consumer Data Right · Last updated 29 June 2026 · Product ID UnsecuredBusinessOverdraft · View on CDR.gov.au